Money in Latvia
Latvia - Money
Following the sharpest GDP contraction since the 2009-10 global financial crisis in Q2 as a result of the Covid-19 blow, recent data hints at a recovery that is losing traction. After a slight rebound in July, industrial production slumped again in August as manufacturing output faltered. Moreover, retail sales growth waned again in the same month, which, combined with a still-elevated, despite gradually falling, unemployment rate and deeply entrenched pessimism among consumers in Q3, bodes ill for private consumption. The surge in new virus infections from mid-September onwards may come to further restrain spending heading into Q4. On a positive note, Fitch Ratings affirmed the country’s credit rating at A- and lifted its outlook from negative to stable on 9 October, citing the economy’s relative resilience to the pandemic’s shock and the government’s favorable financing conditions.Latvia - Money Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Money (annual variation in %) | 13.9 | 7.4 | 5.9 | 14.7 | - |
Latvia Money Chart
Source: Bank of Latvia and FocusEconomics calculations.
Latvia Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.55 | 0.0 % | Jun 30 |
| Exchange Rate | 1.12 | 0.65 % | Dec 31 |
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Economic News
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Latvia: Consumer prices fall annually again in November
December 8, 2020
Consumer prices declined 0.28% over the previous month in November, following October’s flat reading.
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Latvia: Contraction in GDP softens in Q3 as Covid-19 restrictions ease
November 30, 2020
The economy shrank 2.6% year-on-year in the third quarter, according to detailed national accounts data released on 30 November.
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Latvia: Consumer prices continue to drop annually in October
November 9, 2020
Consumer prices were unchanged over the previous month in October, following September’s 0.09% uptick.
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Latvia: Industrial production contracts again in September
November 3, 2020
Industrial production output dropped 2.8% in year-on-year, calendar-day adjusted terms in September, slightly softer than August’s 2.9% fall.
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Latvia: Economy contracts at softer clip in Q3
October 30, 2020
Economic activity tumbled for the third consecutive quarter in Q3, with GDP falling 3.1% on an annual basis according to preliminary national accounts data released by Latvia’s Statistical Institute on 30 October.
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